Getting your holiday money is important, especially if you plan to not use your credit cards. Fear of fraudulent activities has deterred people from using their credit or debit cards. While you might be able to get some protection cover for your credit cards, there is not much you can do if your money has been taken from your debit card.
With people becoming more inclined to saving money the debit card is one that is gaining in use. When you have to travel you do have to ensure you have enough money for your trip. This will then lead you to go around and compare exchange rates for travel money. This indeed is essential to do so that you don't end up paying a high commission when you buy your foreign currency.
Online
The first port of call for most people is to go and compare exchange rates for travel online. There are many websites that will offer you advice and places where you can get your foreign currency. However, it is often found that while all these might speak the fancy sales talk when you click purchase, you suddenly find that you have been dubbed and there is some commission that you have not been made aware of. Remember they too have to make some money in some way. This means that you might have to start looking further afield and really compare exchange rates for travel money.
Banks
Some people think that it is easier for them to go and simply buy their foreign currencies from the bank. Indeed this is plausible, but banks often charge their own commission percentage. And with exchange rates fluctuating, you are guaranteed that the money you have bought will cost you more than when you sell it back to the bank.
Most people do a great deal of research when they want to compare exchange rates for travel money so that they end up with more money than they otherwise would have if they simply went ahead.
Currency cards
All these options might seem like the best, but they do come with one flaw. Once you lose your money through theft or any such things, then you won't be able to get it back. People have come to the realisation that money is not always such a good thing to have in hand, but so are your credit and debit cards. Also, some banks will charge you a great deal of money for making international withdrawals, which is why people rather have the money in their hands as opposed to coming back to bank statements that have put them in the red.
The option of using a prepaid currency card is an appealing option for many people. This is due to the fact that the prepaid currency card does act like your average. This means that you are able to shop with it and do all the things that you normally would do with the card, except you won't end up in the red.
Tuesday 16 March 2010, 05:03pm
Choosing the best foreign currency to exchange your money for, all depends on where you’re going. You can exchange currency in many places on your way to wherever it is you happen to be going. Your other options are to exchange when you get there butthe best choice is to exchange it online beforehand.
The best foreign currency exchange possibilities are online. It just makes more sense than the other choices offered. First of all it’s convenient. You just sit in front of your computer, type in your search terms, and voila! There you are on your way to finding a place that will exchange your currency for the foreign currency of your choice. There are also plenty of choices you have when it comes to how you’d like to receive that currency and how much you want to get. You have so many choices and everything is so convenient, there’s no way you can go wrong. Well, unless you wait to exchange your money when you arrive. Then you’d have to pay inflated prices just because you have to. Once you’re there, you don’t have that much of a choice.
There are a wide variety of currencies you can exchange for online. You can just search for the particular type you need and results will pop up all around you. If you’re going to any countries that are a part of the EEU then your best bet would be to exchange your currency for Euros. They are more widely accepted today than ever and many places who are not a part of the EEU are accepting Euros as the best foreign currency to be used.
The best deals you can get on foreign currency are on travel money cards. While they are a relatively new technology, they offer highly competitive exchange rates, simply because issuing money on plastic is much cheaper for many companies than having the infrastructure to provide you with cash. As well, they tend to beat the rates on debit/credit cards, since they are often run by dedicated companies who are used to trading only in forex.
FairFX offer prepaid holiday money cards which give some of the best exchange rates on the market. Have a look today, and see how much you could save on your next trip.
Monday 08 March 2010, 05:20pm
If you are going to be taking a trip and traveling abroad, then it should be no secret to you that there are various ways of having access to money when you are in a different country. Luckily, you have the option of choosing between everything from cash and credit cards to traveler’s checks and prepaid travel cards. You should expect transactions fees and other various fees when converting your currency into a foreign one. Even when converting cash to a local currency, it won’t be an even 1:1 exchange ratio. Here are some ways to get the best rates of exchange when traveling overseas.
In order to get the best rates of exchange, you should start out by looking at what the current rates are for currency conversion. There are lots of tools online for doing this. You can see exactly how much of your own money equals 1 unit of currency for the country you are traveling to. One word of advice, since the exchange rates change so frequently, if you are going to be staying longer than the typical vacation period, it would wise to check the rates every so often to keep yourself updated.
Of all the money options available to you, using a credit or ATM card will usually give you the best rates of exchange possible. Even converting cash to the local currency may have fees involved and obviously traveler’s checks do as well. Credit cards and ATM cards usually offer rates that are anywhere from 2 to 8 percent lower than what you get converting cash or traveler’s checks. The downsides with using these two options are ATM machine may not be easy to find in the country are traveling to and using your credit card is going to accumulate a great deal of interest.
If you don’t want to carry cash on you, or you even just want better savings on your travel cash, then the only option left is to get a prepaid travel card. Using this type of card is quickly catching on with travellers who want added security for their money and the best rates of exchange, and FairFX has some of the best on the whole market. Prepaid travel cards require a PIN number in order to be used, giving you much greater security than cash or even credit cards. Most providers charge a fee when topping up a card, but here at FairFX we keep this completely free, and easy to do online. Apply for your card before your trip and start saving.
Thursday 25 February 2010, 04:27pm
You may have noticed that are a number of different options in which to have money while you travel. Each choice has its own pros and cons. Here we will take a look at all of them and compare holiday money options available to travelers.
Cash is insecure, incovenient, and often poor value
The first choice is just straight up cash. The good things about using cash are it is quick, convenient and there will be less fees involved when exchanging for the local currency when traveling abroad. The one major downside is, however, if it gets stolen, you’re just out of luck, as it won’t be replaced.
Travellers Cheques; over the hill?
When you are going to compare holiday money options, your list has to include traveller’s cheques. They offer more security than cash in that, if your checks get stolen, you simply report it and they will be replaced. Also, if you run out of money, you can usually find a way to get more money converted to traveler’s checks, no matter where you are. On the other hand, though, this type of currency can be rather expensive, with service fees and shipping charges to have them sent to you. Not everyone accepts them either, and some even charge a fee if they do take them.
Credit cards are convenient, but tend to levy heavy fees
The next choice when you are looking to compare holiday money options is credit cards. They are both secure and easy to carry. If it is stolen, it can be easily replaced. If you have a Visa or MasterCard, it will likely be accepted almost anywhere you go. Even though you would know if your physical card has been stolen, it may take awhile to realize someone has merely stolen your credit card information and is using the card that way instead. For those few merchants, like some restaurants, that don’t accept credit cards, you will need to have some cash on hand for times when you run into someone who won’t accept your card. And most importantly, interest rates can add up fast if you don’t plan to pay the card off in full that month.
Prepaid travel money cards are the best solution for foreign travel
When you compare holiday money options, there is really only one choice if you want to avoid the higher credit card fees and don’t want to carry cash. That option is a prepaid card to be used for traveling purposes. They are as convenient as credit and debit cards, and actually offer greater security as they need a PIN number to be used. Some will have fees that are charged when activated and when you put money on them, however.
We offer prepaid currency cards with a great exchange rates and no hidden fees.
Thursday 25 February 2010, 09:51am
When you’re travelling abroad, you want your money to stretch as far as possible. With all the different rates and fees that are involved in travel, it can be quite difficult to figure out how to get the most for your money. So, where to start?
Getting low foreign currency exchange rates
One way in which to save money is to find the lowest foreign currency exchange rates possible. There are plenty of websites around that will tell you the exchange rates for any kind of purchase you make, organizing it by credit card company. Whether you’re making a purchase with a credit card, debit card, cash advance, ATM withdrawal, or even cash, chances are that, depending on the bank or company, there will be some sort of fee that you incur. Do some investigating into the companies that you have your money in, and see who has the cheapest rates.
Money exchange rates can change significantly based on the provider
Depending on what credit card company or bank you go with, you can experience vastly different exchange rates, which can really cut into your spending if you have to waste money switching back and forth. Luckily, if you pick the right provider, you can mitigate the damage to your funds. For example, if you convert using USAA, you’ll have to pay 1% of the money you’re exchanging for a conversion fee, whereas Capital One has no conversion fee (and is therefore your best bet for exchanging foreign currency). Chase and Citibank, however, have a 3% exchange rate, so seriously consider other options for currency exchange if you have those cards and plan on traveling abroad.
Get your foreign currency online before you travel
Sometimes, when you travel, it’s impossible to anticipate how much you’re going to spend, and what on. This may often lead you to make a lot of little transactions using your checks, cash, or credit cards, which, when you factor in the fees that are made for every transaction, can really add up. One way to circumvent this is to get the money through a company that specializes low cost currency online, like FairFX. Have a look at our selection of travel money cards, which give you cheap currency that youo can spend on a prepaid mastercard. Buy online today before your trip tomorrow, and stay ahead of the charges.
Wednesday 17 February 2010, 02:11pm
